media statement
17 October 2022
Attributable to Kim Farrant – General Manager, Responsible Investment
HESTA welcomes the strategic shift that Origin has taken to divest its interests in the Beetaloo Basin and its intention to exit upstream exploration permits.
As a result of this shift and together with information provided via ongoing engagement with HESTA, Origin has been removed from a “watchlist” position.
We believe Origin has articulated a climate strategy consistent with a 1.5oC pathway and that their change in strategic direction will better support their ambitions to lead the energy transition through cleaner energy and customer solutions.
Reflecting this view, it is HESTA’s intention to vote in favour of Origin’s Climate Transition Action Plan (CTAP) at the upcoming Say on Climate advisory vote.
While we welcome Origin’s strategic shift, we consider that there are areas of its CTAP requiring further development.
It’s our view that Origin could play a more active role in supporting a just transition for affected communities. We also ask Origin to consider how it can leverage its membership of industry associations to advocate for greater alignment with their climate strategy and commitment with a 1.5°C pathway.
Ends.